The plants are being developed as a result of strong government support for renewable energy, specifically by CONELEC’s feed-in-tariff policy enacted in early 2011. Under the terms of the agreement, power generated by the plants will be purchased at US40.03 cents/kWh and distributed to the national electrical grid.

“These projects combined will represent one of the largest construction-ready feed-in-tariff based solar PV facilities in Latin America” Adam Hepworth, CEO of Solexica said.

In total, the plants are expected to bring more than US $200 million in investment to the local economy and generate approximately 400 construction jobs.